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The Cardano Vasyl update is scheduled to go live with the Cardano team in less than a few hours today. Mentioning All three important mass indicators needed to trigger the update are now met.
According to an update on Wednesday from Cardano, a business under Input Output Hong Kong (IOHK), 13 digital currency exchanges have confirmed they are ready for the hard fork, representing more than 87% of Cardano’s (ADA) cash flow.
Based on the environment preparedness page maintained by IOHK, Coinbase remains the only interaction mentioned in the development in terms of integration status among major transactions for ADA cash flow.
However, as Coinbase already plans to support the fork, ADA exchanges say they will stand by Cardano Vasyl’s difficult fork maintenance.
Originally planned for a June release, the Vasyl update has been pushed back twice, most recently due to a crash in Cardano’s previous node version that caused compatibility issues.
With the updated Vasil base station, the revised nodes are creating more than 98% production server blocks. The cryptocurrency’s highly distributed software (DApps) have confirmed their readiness, highlighting that all three steps are needed for the development to continue.
According to market analysis console Sentiment, the social network discussion about ADA has increased by 35.16% since Monday last week, ranking third behind Ethereum and Ripple.
Big focus on fork tokens
Once implemented, the update will make it crypto’s most valuable token since last September, when it first enabled cryptographic protocol capabilities. This update aims to improve smart contracts, reduce costs and improve network bandwidth.
According to IOHK, the most important advantage of the fork is the rapid creation of blocks because they can be transferred without full verification. The Vasil update is named after the late Vasil Stoyanov Dabov, Cardano community representative and diplomat who died of thromboembolism last December.
According to CoinGecko, the price of ADA is at $0.44, a flat 3.4% in the last day and down more than 85% from its peak of $3.09 on September 2, 2021.
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